California’s 20-Year Revenue Bonds for Prisons Sell for 5.34%
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California sold $490.4 million of tax-exempt bonds to finance prison construction, with yields 0.29 percentage point less than similar debt offered last year.
The most-indebted U.S. state offered the lease-revenue bonds with yields ranging from 1.25 percent on two-year securities to 5.34 percent for debt maturing in 2031, Treasurer Bill Lockyer said yesterday in a statement.